CECO Environmental Corp. (NASDAQ:CECO) Forecasted to Post Q3 2024 Earnings of $0.20 Per Share

CECO Environmental Corp. (NASDAQ:CECO) – Equities research analysts at Roth Capital cut their Q3 2024 earnings estimates for shares of CECO Environmental in a research report issued to clients and investors on Wednesday, July 31st. Roth Capital analyst G. Sweeney now anticipates that the company will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.30. The consensus estimate for CECO Environmental’s current full-year earnings is $0.92 per share. Roth Capital also issued estimates for CECO Environmental’s Q4 2024 earnings at $0.37 EPS.

CECO Environmental (NASDAQ:CECO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $137.50 million for the quarter, compared to analysts’ expectations of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS.

A number of other analysts have also weighed in on CECO. Northland Securities increased their price objective on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Craig Hallum boosted their price objective on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. HC Wainwright raised their target price on shares of CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm boosted their price target on CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Needham & Company LLC increased their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $34.80.

CECO Environmental Stock Up 3.3 %

Shares of CECO opened at $27.19 on Monday. The business’s 50 day simple moving average is $26.95 and its 200-day simple moving average is $23.98. CECO Environmental has a 1 year low of $11.55 and a 1 year high of $31.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.19. The stock has a market capitalization of $949.91 million, a price-to-earnings ratio of 77.69, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37.

Institutional Trading of CECO Environmental

Several large investors have recently bought and sold shares of the stock. CWM LLC lifted its stake in shares of CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares during the period. AJOVista LLC purchased a new stake in CECO Environmental during the 4th quarter valued at about $57,000. EntryPoint Capital LLC acquired a new position in shares of CECO Environmental in the first quarter valued at about $72,000. Kessler Investment Group LLC purchased a new position in shares of CECO Environmental in the fourth quarter worth about $125,000. Finally, SG Americas Securities LLC purchased a new position in shares of CECO Environmental in the second quarter worth about $201,000. Hedge funds and other institutional investors own 68.08% of the company’s stock.

Insider Activity

In other CECO Environmental news, Director Richard F. Wallman bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the purchase, the director now directly owns 205,319 shares in the company, valued at $5,030,315.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.90% of the company’s stock.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.